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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #841
  • Aug 6, 2009 7:19pm Aug 6, 2009 7:19pm
Quoting Icehocey77
hey guys been on vacation, checked out this M15 pin with trend...how's this look? which is better in your opinion the retrace from the big move or the last pin?
if you're referring to the pins as marked, i think the first one is better b/c of the resistance as show(confluence with middle BB and 21ema). just my view.
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  • #842
  • Aug 6, 2009 10:36pm Aug 6, 2009 10:36pm
Quoting dhh
if you're referring to the pins as marked, i think the first one is better b/c of the resistance as show(confluence with middle BB and 21ema). just my view.
To my mind both are fine, they both touch 21 and with the trend. The difference is that the second hasn't developed on the chart yet)). To me these were the only trades for E/U yesterday.
  • #843
  • Aug 6, 2009 11:24pm Aug 6, 2009 11:24pm
Quoting dhh
if you're referring to the pins as marked, i think the first one is better b/c of the resistance as show(confluence with middle BB and 21ema). just my view.

Quoting ira
To my mind both are fine, they both touch 21 and with the trend. The difference is that the second hasn't developed on the chart yet)). To me these were the only trades for E/U yesterday.
they both ended up winners, just trying to gauge the entries. Finally finished a full year of 5 min E/U charts. Tough go about it. Does anyone deal in the S&P or Dow minis? I think I read in this thread or J16 about someone doing it and how it trended very well.
  • #844
  • Aug 7, 2009 12:43am Aug 7, 2009 12:43am
Quoting Icehocey77
they both ended up winners, just trying to gauge the entries. Finally finished a full year of 5 min E/U charts. Tough go about it. Does anyone deal in the S&P or Dow minis? I think I read in this thread or J16 about someone doing it and how it trended very well.
hey ice,

you say ,you finished a year 5min, do you mean backtesting?

if so,what were your results if you dont mind

thanks
  • #845
  • Aug 7, 2009 7:46am Aug 7, 2009 7:46am
Quoting ira
To my mind both are fine, they both touch 21 and with the trend. The difference is that the second hasn't developed on the chart yet)). To me these were the only trades for E/U yesterday.
i agree, both of them meet the rules of the setup focused by this thread. i simply point out the first was better by comparison b/c of the extra confluence. glad both of them were wins.
  • #846
  • Aug 7, 2009 8:28am Aug 7, 2009 8:28am
Quoting FOURX
hey ice,

you say ,you finished a year 5min, do you mean backtesting?

if so,what were your results if you dont mind

thanks
It wasn't necessarily backtesting, more so getting a better reading of price action and testing various R:R to come up with a better method to test. Right now my plan is to come up with a certain large pinbar length that will be 2:1 due to the bar size and going 3:1 with smaller bars, moving both to BE at 1:1 and straight 2:1 with CTs with divergence. Also have been dabbling with outside bars, but nothing conclusive yet.
  • #847
  • Aug 9, 2009 7:55am Aug 9, 2009 7:55am
yea, but it's all about MM.
make your statement from trading account and imagine how it could looks with only 50$ per loss and 100$ per win.
You would be profitable. It's not holy grail, it's called MONEY MANAGEMENT.



Quoting Icehocey77
It wasn't necessarily backtesting, more so getting a better reading of price action and testing various R:R to come up with a better method to test. Right now my plan is to come up with a certain large pinbar length that will be 2:1 due to the bar size and going 3:1 with smaller bars, moving both to BE at 1:1 and straight 2:1 with CTs with divergence. Also have been dabbling with outside bars, but nothing conclusive yet.
  • #848
  • Aug 12, 2009 6:43am Aug 12, 2009 6:43am
first trade this week. didn't really go down after 3 bars, so got out -1.

(it's quiet here. i only trade EURUSD, so thinking people should have more trades than me. wondering if people not trading this method, or just not posting)
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  • #849
  • Aug 12, 2009 6:48am Aug 12, 2009 6:48am
Today's trades so far...
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Keep taking CT trades, I need more money
  • #850
  • Aug 12, 2009 6:55am Aug 12, 2009 6:55am
Quoting supremeChaos
dhh,
believe me, my charts are usually more crowded than the 1 i posted.
I removed other indicators so as to "fit"/be relevant in Jankone's thread.

In case u didn't notice, that gbp$ M5 chart was ranging: in consolidation.
in fact, M5 - H1, & even up to H4 to some extent, was/has been ranging.

anyone can make money in trending markets, but it's hard to profit when price is in a range. when a trader makes money consistently even in ranging markets, then he/she has a potential for success. Sir james16 made mention about that...

70% of the time the market is sideways and that is when I make my money doing CT trades, If you BB are flat you can just trade the extremes doing CT trades and once you get stopped out a trend just started again Most people blow up in a sideways market, I just trade the bands and wait for the range to get killed and I did the same thing back in my S&P days too, in fact I only did CT trades back then.
Keep taking CT trades, I need more money
  • #851
  • Aug 12, 2009 7:00am Aug 12, 2009 7:00am
Quoting Jlr
Still unsure if I like the mid bb pinbar. I know ryan is a big fan, so can't be so bad, but hasn't been so great when I've watched. I've been considering how to make it more profitable/tradeable, from what I'm thinking right now, they may be better when they don't consolidate and then move and pull back. Also they could be better when the bottom formed prior to the PB doesn't look tradeable. Not sure really, but they don't really excite me that much right now. I might go back and test it out, very undecided. Hmm then again yours worked nicely with...

It's works okay if the market is in a trend like it was this AM, if I did not get a new high in 2 bars I was going to kill the trade. Sideways days you will get hammered off the mid BB. What I like to do is wait for a trend to start then get a pullback to the mid BB, if the mid BB holds and we get a new high I then know we have a trend going and I play the pullbacks. ALSO I do not front run them, I wait for it to show support then get in, dont want to catch a falling knive.
Keep taking CT trades, I need more money
  • #852
  • Edited 7:17am Aug 12, 2009 7:06am | Edited 7:17am
Quoting Ryanmcd
Today's trades so far...
ryan, trying to see what you see, are you referring to these red arrows pins(2 longs)? thanks.

i'm only focusing on the two setups outlined here since only beginning:
1. A+ trend, A+ pin at middle BB/21ema
2. A+ counter trend, A+ divergence, A+ pin

but i'm taking notes on your posts, should add more setups in future.
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  • #853
  • Aug 12, 2009 7:23am Aug 12, 2009 7:23am
Quoting Ryanmcd
70% of the time the market is sideways and that is when I make my money doing CT trades, If you BB are flat you can just trade the extremes doing CT trades and once you get stopped out a trend just started again Most people blow up in a sideways market, I just trade the bands and wait for the range to get killed and I did the same thing back in my S&P days too, in fact I only did CT trades back then.
this is what i don't understand:
BB flat = sideways = no trend
then what do you mean CT trades since there is NO trend?
can you put up a chart to show this when you get time? thanks.
  • #854
  • Aug 12, 2009 7:37am Aug 12, 2009 7:37am
Quoting Ryanmcd
It's works okay if the market is in a trend like it was this AM, if I did not get a new high in 2 bars I was going to kill the trade. Sideways days you will get hammered off the mid BB. What I like to do is wait for a trend to start then get a pullback to the mid BB, if the mid BB holds and we get a new high I then know we have a trend going and I play the pullbacks. ALSO I do not front run them, I wait for it to show support then get in, dont want to catch a falling knive.
Makes sense, thanks. Really need to get back to the studying hopefully this weekend.

Welcome back by the way
  • #855
  • Aug 12, 2009 7:39am Aug 12, 2009 7:39am
Quoting dhh
first trade this week. didn't really go down after 3 bars, so got out -1.

(it's quiet here. i only trade EURUSD, so thinking people should have more trades than me. wondering if people not trading this method, or just not posting)
Just not posting personally, pretty bored. Have my select trading conditions and haven't really found any ways to make improvements. Trying new things and not really adding to my winrate. Going to test out mid BB thing this weekend, would love to trade that one get some more trades. Boringest week yet so far, only 1 trade
  • #856
  • Aug 12, 2009 7:57am Aug 12, 2009 7:57am
Quoting dhh
this is what i don't understand:
BB flat = sideways = no trend
then what do you mean CT trades since there is NO trend?
can you put up a chart to show this when you get time? thanks.

Yes, look at this chart and look if you got into a CT on everytime it hit the BB with divergence or a PB. It just takes time to see the trades, also I will kill a trade in under 30 seconds if something goes wrong, I do not do this much but if the bar moves fast against me I will.
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Keep taking CT trades, I need more money
  • #857
  • Aug 12, 2009 7:59am Aug 12, 2009 7:59am
Quoting dhh
ryan, trying to see what you see, are you referring to these red arrows pins(2 longs)? thanks.

i'm only focusing on the two setups outlined here since only beginning:
1. A+ trend, A+ pin at middle BB/21ema
2. A+ counter trend, A+ divergence, A+ pin

but i'm taking notes on your posts, should add more setups in future.

Yep you got it, as you can see price wanted to go up, and my time to kill it was I got long and wanted to get a new high, once that happened I knew I was set and went to cost because support was the old resistance.
Keep taking CT trades, I need more money
  • #858
  • Aug 12, 2009 8:04am Aug 12, 2009 8:04am
Quoting Ryanmcd
70% of the time the market is sideways and that is when I make my money doing CT trades, If you BB are flat you can just trade the extremes doing CT trades....
yes... i think u have not taught this to Jankone & the rest yet.
BB, like i said in my previous post (the one u quoted) & your above post, can be used when price is ranging/in consolidation. u can do this in any timeframe. trading the extremes means buying when price touches the lower BB & selling when price touches the upper BB. again, u do this when price is ranging (BB is flat).


Quoting dhh
this is what i don't understand:
BB flat = sideways = no trend
then what do you mean CT trades since there is NO trend?....
an example chart would be my chart post Ryanmcd quoted. u can also check your own charts via previous days ranging periods & see if u find flat BB's.
  • #859
  • Aug 12, 2009 10:47am Aug 12, 2009 10:47am
ej m15 today. great pinbar + nice div. this is what you are waiting for! minutes, hours and days.



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  • #860
  • Aug 12, 2009 10:50am Aug 12, 2009 10:50am
Quoting Jlr
Just not posting personally, pretty bored. Have my select trading conditions and haven't really found any ways to make improvements. Trying new things and not really adding to my winrate. Going to test out mid BB thing this weekend, would love to trade that one get some more trades. Boringest week yet so far, only 1 trade
as people say it, 'been there, done that'. i was always trying new things and trying improvements for years, and i learned that i was doing too many things and not giving enough focus/time to each one of them, needless to say the results were not satisfactory. i now follow discipline to focus on a few and get good at them, no premature decision whether they work or not.

i get bore too while watching and waiting, i multitask with reading J16 and this(sometimes a little email, but try avoid non-trading things). for me, when i post it actually helps me stay focus on trading and keeps the spirit high.

just want to bounce back, what you(or all of us) going thru is part of it. good trading.
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